15CPW Alert! Miami Developer Buys for $3.5 M.
Florida developer Gerardo Capo has paid $3.5 million for a 12th-floor condo at 15 Central Park West, city records show, moving about as far from Miami's bottomless housing market as one can get--metaphorically speaking.
The chairman of the Capo Group lives in one of his own luxury condos in Miami Beach, just 48 miles east of one the biggest and most controversial projects in his portfolio, the $850 million Bimini Bay Resort and Casino in the Bahamas. On second thought, maybe he was trying to put a little distance between himself and the Capo Group's adversaries living on the 9.5 million-square-mile island.
Encompassing one-tenth of Bimini, the massive complex houses a 250 room-Conrad Hotel, almost 500 condos, an 18-hole golf course, a 550-slip marina, a 10,000-square-foot casino, and a Starbucks on an area that was once occupied by marshes and sand.
Environmentalists claim that the development is an "ongoing ecological disaster,” which will destroy the wetlands, fish nursery, and mangrove estuary on Bimini. Mr. Capo has promised it will create jobs for the 1,700 inhabitants of the island.
43 CLARKSON
Dramatic perspectives from every room in this condo loft triplex penthouse... More details |
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Just a bit of clarification
Bimini is 7 miles long and just 1/4 mile wide.
Mr. Capo's project is in fact an ecological disaster and is just in it's early stages. The hotel, golf course,and casino have yet to be built.
The project has already destroyed vital mangrove areas, but, it is nothing compared to the devestation that will follow if he is allowed to finish his development, build his golf course, and continue to cash in on waterfront home sales.
What the Capo Group is doing to Bimini seems as if it is right out of a Carl Hiassen novel. If you hadn't seen it yourself, you'd never believe that someone could get away with such wanton destruction for profit in this day and age.
As far as jobs for the islanders go, Mr Capo imported Mexican and Central American laborers to bulid the complex and was accused by Mexican news media of "slave like" conditions for the workers brought to the island.
To the city of New York.....enjoy your newest resident. As a word of warning, keep your eye on Central Park. He may very well try to bulldoze it and build a few condos there
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